. >> a valuation call from adam jonas.g ford from equal weight to overweight it's valuation that's driving this as you take a look at shares of ford, keep in mind it was at 15 bucks, a little over 15 bucks at the beginning of september it has really fallen off in part because of the warning in regards to ford's business, adam jonas writes the inflation reduction act has potential to improve the return on investment for ford's u.s. onshore ev business so that's what he has to say about ford again, we can't stress this enough he's not changing his price target, simply saying it's fallen off so much it's time to upgrade the stock as for general motors, he's cutting the price target from 42 down to $30 a share, keeping his rating where it was for general motors and also raising the question, we saw a warning regarding q3 revenue from ford is it possible we might hear the same from general motors that's why the stock is down almost 5% today. really all the auto stocks down from 2.5 to 4% as you take a look at tesla, toyota, hon

. >> adam jonas of morgan stanley. >> have to wait for the quarter. >> well, i mean, that's just an uglyun for ford. ubs may be a little late here. >> i think they are too. >> really? down 44% now you downgrade it >> well, but i guess, look, the problem is, if you're going into recession, you can't -- i have to think of the 5% yield, i'm anxious to buy it back but i want to see the quarter. >> i want to bring in our man on all things auto as well, phil le beau, get his take on the downgrades this morning and also some of the details around this rivian recall and what the impact may be. >> david, let's start with rivian you are correct. they are recalling basically every vehicle they have delivered since they began manufacturing last year. it's about 13,000. they've manufactured 15,000 since the beginning of last year as recalls go -- and i know some people are going to say, you're recalling every vehicle, why is it not that big of a deal? it is significant. i'm not trying to diminish it, but at the same time, keep in mind, there are no accidents involved there are no deaths or fatalities

adam jonas making an interesting point on chesler.ght have a demand issue, 22,000 cars in the summertime, 22,000 cars were not sold. elon musk, the demand for for the cars they make are not the case anymore, it still needs another $3 billion in chesler stock to fund twitter buyouts. stuart: that is news, you can't sell what they produced, that is news to me. susan: william jonas made a point on that. stuart: i would have thought oil stocks were doing well. what are they doing? susan: the outperformance of the s&p, the complex with opec plus 2 million barrel daily cut drawdown in food stock piles, schlumberger, exxon, apache and philips, the average selling price for chesler is part of that report that i found fascinating, average price for chesler $60,000 so quite a premium. at the point you raise prices there will be a demand for electric cars. stuart: great stuff. the u.s. army missed its recruitment goal by 15,000 soldiers this year, the military is losing 20,000 servicemembers because of the vaccine mandate, national security coun

you watched the movie so did i but ford stock is really reacting to morgan stanley, adam jonas of coursear analyst of the moment, and he calls the stock decline a buying opportunity, and an entry point for ford. in his view it's worth $14, so you could get more upside here. it's a drag on gm though the price target was cut there. stuart: but thinks it might go to $14 a share on ford. that would give you a buck 57. >> yes, so what is that? stuart: nice percentage but really -- >> you're getting 4% on your two year yield that you keep touting with your what is it, your tax deductions involved. so i think, you know, this environment not bad. stuart: it just doesn't excite me. when i'm used to being looking at microsoft or amazon going to the mood, that's what excites me about the market and everybody else too. who is bullish on airbnb? >> well i saw there was, so look there's an out performance right now, bernstein just initiated this stock calling it possibly the travel stock of the west. outperform rating price target increase here, and yeah, i would say it's probably reacting more toward

. >> phil mentioned the adam jonas note, da en dan what would you >> probably ford i think momentum aroundthe ev models and their ability to raise prices twice, as phil just said and a handful of months here that speaks to demand for this product, when they get those supply chains back on schedule it should be fantastic for them moving a greater part of their fleet. vesz, let's say -- here's one thing. tell me where rates will be and we see what's going on here. twofold. right? the ability for people to finance the cars is an issue, and that cost greater for them just to own these sorts of cars especially with these increases, and ford itself, why does the stock trade where it was think of all the debt and ability to finance that debt with rates where they are. feels a bit like a value trap. down 40%, 50% from highness january. i'm not sfepi stepping in. back it out a few years, epic held and shoulders top right there. >> and bank stocks downgraded by atlantic equities. taking goldman sachs to underwait. morgan stanley from newt utral o overweight they're optimistic atlantic equities notin

and the contention of adam jonas, you add in higher interest rates, you add in this inventory that is starting to build. we will start to see prices come down we are not seeing it a lot yet we might see it on the lower end of the youth market. guys, i talked with a dealer just a couple of days ago, and he's getting strong pricing. he is not seeing diminished pricing. so it is still out there in terms of near record-high prices in terms of new vehicles that's what we saw in september. the ample transaction price, or the average amount financed 41,000 compared to 38,000 a year ago >> yeah i know the bronco, f-150, because of the name plate issue. they have sold those it's just the shortage i spoke with the people from mercedes-benz. they are pushing into the ev do you think ford will be able to mercedes wants to own it >> everybody wants to own it >> that's true >> i give mercedes credit, this is where you have to be. whether it's the whole lineup that is coming, look, those are impressive vehicles. jim, did you see the price tag on the eqs guess where it's starting at right now. >> not

there was also third defendant, the man who called 9-1-1, jonas brother, adam shacknai.ou have anything to do with rebecca's death? >> absolutely not. >> greer disagreed. he pointed to those knots tied around rebecca's hands and feet. >> figuring out in the first place is hard, tying them almost impossible. >> he believed whoever tied the knot had to be an expert, possibly a sailor. and adam shacknai worked on the mississippi river as a tugboat captain. >> when he ties things off he uses a figure eight, and then closes it with a single hitch or two, guess would not's are tied on both her legs and her hands? figure eights, tied off with a single hitch or two. >> sheriffs investigators had questioned adam extensively after rebecca's death. you didn't hold anything back from investigators? >> nothing. >> you help them to the extent that you could? >> yeah, exhaustively. >> you thought you had nothing to hide? >> i knew i had nothing to hide. >> and when investigators determined there was no evidence placing adam at the scene, they cleared you? >> they did. >> did you think

you can get an idea where the ambitions for elon musk lies adam jonas at morgan saying he thinks it's on the battery front taking note of tesla's 84% growth in services and other related businesses tesla shares down 5% but it's a big weighting, of course back over to you. >> thanks. we'll check in with you a little later. >>> let's talk about blackstone. they're out with quarterly results. coming into $1.06 per share. results getting a boost in fee-related products jon gray is going to be joining us in the next hour. we're going to get a snapshot of the global economy from him given his pulse on so many different businesses around the world. >>> coming up, over the last five years, this stock has outperformed its rivals home depot and lowe's on a percentage basis. we're talking about tractor supply the company's ceo is going to join us to talk about the health of the consumer inflation and so much more. >>> take a check on the markets. "squawk box" coming right back nurse mariyam sabo knows a moment this pure demands a lotion this pure. gold bond pure moisture lotion 24-hour hydration